Energy rates in the UK are on the rise, with recent figures showing that prices are increasing at the fastest rate since 2014.
Making things worse, an estimated 70% of UK households are on expensive standard variable tariffs, or “SVTs”, from the big six providers, meaning that many consumers are paying more for their energy supply than they need to.
Luckily, there are a variety of ways to save money on energy. From changing your energy usage habits to switching providers, a range of tactics can help you shave as much as 20% off of your monthly energy bill.
To help you take action and reduce your energy spending, we’ve listed the top-rated low-cost energy providers in the UK below, as well as a variety of tips that you can use to lower energy consumption and reduce your monthly bills.
Utility Warehouse received the highest customer score on the Which? 2018 energy companies survey. Its rating included a five star score for value for money, setting the provider apart as one of the UK’s best low-cost energy providers.
Unlike most energy companies, Utility Warehouse doesn’t advertise and rarely appears on most price comparison websites. Despite this, it has highly positive ratings from consumers and offers a variety of competitively priced energy tariffs for residential customers.
Another top-rated low-cost energy provider, Flow Energy launched in 2013 and has attracted a loyal customer base over the past five years. The company supplies gas and electricity at fairly competitive rates, making it a great potential switch if you use a big six energy supplier.
Strong points of Flow Energy include a five star rating for bill accuracy and clarity, five stars for phone-based customer service and a 77% satisfaction rating from customers, all in addition to affordable residential energy tariffs for customers.
Octopus Energy came in third place in the Which? energy company comparison, earning an impressive 76% customer score. This small energy supplier specialises in green energy, with competitive rates for energy sourced from solar farms and wind turbines.
Like Flow Energy, Octopus Energy scored an impressive five star rating for bill accuracy and clarity. The company also offers a 100% renewable electricity and carbon offset, making it a great option if you’re looking for a green, environmentally-friendly energy provider.
Other ways to reduce your energy spending
In addition to switching to a low-cost energy provider, there are numerous ways to reduce the amount you spend on energy:
- Change your energy consumption habits by turning down the temperature during winter and keeping warm with thicker winter clothing.
- Switch to an energy efficient boiler to keep your home warm and comfortable while using less energy.
- Avoid costly repairs and replacement bills by protecting your heating system using boiler insurance.
- Upgrade your home’s insulation to reduce heat loss during winter, helping you save as much as 80% of your heating spending.
Whichever provider you choose, it’s important to take action as soon as possible if you feel that you’re overpaying for your energy. Over the long term, even a small reduction in your bills can result in significant savings, letting you save more money and enjoy a higher quality of life.